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Brasil Pharma in Follow-On Offering

February 22, 2016

Cleary Gottlieb represented BTG Pactual and Santander as underwriters in a follow-on offering by Brasil Pharma of R$400 million (approximately $100 million) in common shares.

The shares were offered in Brazil to a limited number of professional investors, pursuant to the Brazilian SEC’s Rule 476, and was subject to a priority offering in favor of Brasil Pharma’s existing shareholders. Brasil Pharma’s common shares trade on the Brazilian BM&FBOVESPA. The offering was made in the United States pursuant to Rule 144A and outside the United States and Brazil in reliance on Regulation S. Brasil Pharma is one of the largest companies in the retail drugstore market in Brazil. This is the third time Cleary Gottlieb has represented the underwriters in an equity offering by Brasil Pharma.